Issuance of Decree No. 10904685250 by the MOF on 2 December 2020:
Notice is hereby given that the amounts of items listed in Paragraph 1, Article 12-1 of the Estate and Gift Tax Act are applicable to estate and gift tax cases occurring in 2021.
Issuance of Decree No. 10904654530 by the MOF on 10 December 2020:
The abolition of the Explanatory Decree No. 800767164 by the MOF on 18 January 1992 has been issued and became effective on 1 July 2021.
Issuance of Decree No. 10900697310 by the MOF on 10 December 2020:
“The Standards on Profit-Seeking Enterprises in the 2021 Taxable Year for the Ceiling Interest Rate on Loans and Standards on General Salary of Employees” has been issued.
Issuance of Decree No. 10904684140 by the MOF on 16 December 2020:
Notice is hereby given concerning the amount of basic living expenses for an individual in 2020.
Issuance of Decree No. 10904677860 by the MOF on 16 December 2020:
Notice is hereby given concerning the amounts of basic income, deduction from basic income while calculating the basic tax, and exemption for insurance payments received in the event of death for individual basic income under which profit-seeking enterprises and individuals are not liable for income tax in accordance with the Income Basic Tax Act in 2021.
Issuance of Decree No. 10900703780 by the MOF on 16 December 2020:
Notice is hereby given concerning the amounts of exemptions, standard deductions, special deductions for salaries/wages and the disabled, tax brackets for individual income tax in 2021, and limited exemptions for retirement and severance payments received in 2021.
Issuance of Explanatory Decree No. 10904601590 by the MOF on 21 December 2020:
MOF Order is hereby given, for the stipulation pursuant to Subparagraph 1 of Paragraph 1 of Article 11 of the “Value-added and Non-value-added Business Tax Act,” which stipulates that processing fees for debit card transactions charged by banks which concurrently engaged in a credit card business shall belong to the sales amounts which are not connected exclusively with their core business; therefore, the aforesaid processing fees shall be taxed at the business tax rate specified in Article 10 of the aforesaid Act.
Issuance of Decree No. 10904654700 by the MOF on 28 December 2020:
The amendments on partial provisions of the “Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm's-Length Transfer Pricing” has been issued.
Issuance of Decree No. 10904686960 by the MOF on 30 December 2020:
The revisions on partial provisions of the “Reference Table for Fines and Multiples of Punishments” related to Article 32 of the “Commodity Tax Act” have been issued and became effective on 18, November 2020.